Banks Must Provide A Single Contact In Loan Modifications - (US Treasury) Finally!

The U.S. Treasury finally stated that banks must provide a single contact in a loan modification process!

A while ago I mentioned the fact that one of the 5 greatest challenges facing a homeowner applying for a loan modification is the fact that they don't have a single contact point at the bank who they can deal with.

Lost in a maze - Many consumers have stated that they feel entirely lost in a bureaucratic maze when attempting to secure assistance from their banks. It is unacceptable in my opinion that people should feel so helpless over an issue with is of such incredible importance, especially when it is so easy to make the process a great deal simpler. When you apply for a mortgage in the first place, you have the benefit of dealing with one point of contact. When you try to modify your loan in an attempt to save your home, you are often given an endless run around. Where is the sense and ethics in that?

Double-standards in business conduct - In 2007, there were numerous cases in which banks would sent mortgage brokers to a client's home on a Saturday, and by Monday the client's home mortgage loan would be approved. This often occurred with very little documentation in place. When those same clients now need to have those loans modified, the waiting period is ridiculous, and the amount of required paperwork suddenly becomes a great deal more burdensome. Documents are often lost or misplaced. The key here is to work thoroughly and smartly. Keep a record of every piece of documentation you provide your bank with. If they make a request for the same information, ask them to recheck their files before you resubmit the documentation in question.

High turn-over of key bank personnel - Another issue that is being reported by a number of homeowners is the fact that so called "relationship managers" at banks are getting burned out due to stress and workloads, and they need to be replaced with new staff. This can often leave the homeowner with the frustrating situation of practically having to embark on their loan modification application process all over again. It's apparent that the inefficient systems that banks have in place are of little benefit to staff and customers alike. Banks need to take responsibility for implementing efficient systems that are aimed at providing homeowners with real help and hope.

Here are a few things for banks to consider:

Stop messing around with people and wasting their time and money
Evaluate loan modification applications as soon as possible and let people know if they pre-qualify or not before burdening them with tons of paperwork and fees. With a confirmation that a client qualifies for loan modification, the income and debt validation process can appropriately begin
Be serious please and stop failing to convert trial loan modifications into permanent ones. Too many people have been toyed with in this way. Can you explain why this is the case, Mr. Bank?
Provide the applicants with loan modification terms of agreement as part of the TPP (trial period plan). Don't wait until the TPP is over. People have the right to know what they will be committing to at that point. We are not in the dark ages! People should be treated with dignity and be allowed to understand the consequences of the decisions that they are making. These are the same people who you provided over-priced loans to a few years back, remember?

As banks hopefully step up to the plate increasingly and provide struggling homeowners with tangible assistance and guidance, we may perhaps begin to witness a turn-around in this awful housing market crisis.

For information on how to best prepare for a loan modification, please visit www.mycaal.com.

Visit Caal loan modification software to help you get pre-qualified and prepare your complete loan modification application online.

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Single Parent Grants to Help the Family Survive Tough Times

There are many federal grants for single parents. Such single parent grants include housing, education, hospitalization, welfare, and even business grants. These opportunities provide single parents the chance to have a less burdensome life especially in these financially critical times. Parents can go to college and finish their studies, have a comfortable house for the family, have food on the table, get free medical checkups, and even start a small business of their own. Government can give all these as it wants all the citizens to enjoy a decent life.

If you are wondering how you can avail of single parent grants, the first thing to do would be to ask around. Visit government offices and they will be glad to give you the information you need. There is also plenty of information in websites for single parents. You just need to determine what kind of grant you would like to avail of. Choose the one that is necessary at the moment.

After determining your needs, start applying for the grant. There are forms to be filled out and submitted. In the case of scholarships, you need to fill out a Free Application for Federal Student Aid (FAFSA). If you need medical insurance, you need to visit the state health department and ask for medical insurance for a single parent. If you would like to avail of a housing grant, you should submit the needed documents and requirements asked by the Department of Housing and Urban Development.

Among the most useful single parent grants are the child care grants. Qualified families for this type of grant will avail of government assistance to pay for child care expenses. The U.S. Department of Health and Human Services Administration for Children and Families provides this aid to allow parents to enroll their children in the child care facility or school of their choice. The size of the family will determine how much assistance will be given. If you wish to apply for this grant, you need to go to the local Department of Health and Human Services office and present supporting papers and documents needed.

The government believes that a college degree will give a person the chance to eventually land a good-paying job. The Federal Pell Grant is given to single mothers or fathers who have not received college education and would like to continue their studies. The U.S. Department of Education gives this grant without any repayment at all. This financial aid gives $5100 to the beneficiary. Application can be made through the Department of Education or through a school's financial aid division.

Single mothers and fathers can also avail of food coupons from the government to ensure that they will have enough to eat every day. This is the most important and basic of all grants, since it provides for the sustenance needs of a family which of course are basic for survival. Without food, families will never survive. There are many opportunities single parents can grab in order to give their children a decent living, and all they need is the patience to look and apply for these grants.

Are you looking for more single parent families information? Visit singleparentcenter.net for more information for single parent families, like single parent grants, dating tips and childcare options and help.

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